Volati Ab · OMXSTO:VOLO
Volati Ab — Merger or Acquisition (October 2020)
10 slides from Volati Ab's merger presentation, Oct 21, 2020
Slide 1: Divestiture Besikta, 21 October 2020
Divestiture Besikta, 2020 21 October 2020 Mårten Andersson, CEO Andreas Stenbäck, CFO Divestiture Besikta, 21 October 2020 1
Slide 2: Volati divests Besikta to Applus+
Volati divests Besikta to Applus+ • Volati AB has signed an agreement to sell all shares in Besikta Bilprovning i Sverige Holding AB to Applus Servicios Tecnologicos SLU. • Attractive price and valuation – enterprise value of SEK 1,050 million corresponding to an approx. equity value of SEK 840 mill
Slide 3: Recap – acquisition of Besiktningskluster AB was a hallmark Volati transaction
Recap – acquisition of Besiktningskluster 2 AB was a hallmark Volati transaction • Newly formed company with no financial history and neither management team, consumer brand or IT-systems. • Recently deregulated industry with increasing competition from new entrants. • No clear growth opportunities.
Slide 4: A showcase for Volati's value creation agenda
A showcase for Volati’s value creation agenda 1 1 Acquire good companies at reasonable 4 High operational efficiency Volati – an active owner valuations • Optimising station staffing. • Large and profitable cluster of stations in a • Introduction and constant improvement 2 regulated market. of prici
Slide 5: Significant value has been created since acquisition during active ownership
Significant value has been created since acquisition during active ownership Besikta strongly fulfills Volati’s acquisition criteria 700 Net sales, SEK million 618 600 Proven business Leading market Strong cash flows 500 489 model position • High cash conversion 400 • Profitable player in a • Larges
Slide 6: The right buyer – at the right time
The right buyer – at the right time Right time • Besikta currently in process to update the business plan and Net sales 8 000 EBITA 700 strategy going forward post successful execution of acquisition hypothesis. 7 000 589 600 • Changing dynamics in the regulated market for vehicle 6 000 513 inspecti
Slide 7: Volati's overall goal is to generate long-term value growth for its shareholders
Volati's overall goal is to generate long-term value growth for its shareholders Divestment of Besikta proves Volati’s capacity to generate long-term value through acquisitions, business ”Volati creates value by development and opportune acquiring companies divestments. with proven business Add-on a
Slide 8: Financials
Financials • Transaction details ─ Enterprise value excluding leasing of SEK 1,050 million. ─ Equity value of approx. SEK 840 million ─ Capital gain of approx. SEK 750 million; and ─ Cashflow impact of approx. SEK 1,040 million. • Besikta financials for FY2019 ─ Net sales of SEK 618 million; ─ EBITA
Slide 9: Volati – a growing Swedish Industrial Group
Volati – a growing Swedish Industrial Group Divestiture Besikta, 21 October 2020 9
Slide 10: Divestiture Besikta, 21 October 2020
Divestiture Besikta, 21 October 2020 10